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PDC Energy Successfully Executing on Strategic Plan to Create Shareholder Value


Mails Letter to Shareholders Highlighting Strength of Long-Term Strategy and Operating Plan

Highly-Qualified and Engaged Board Urges Shareholders to Vote “For” All Three of Company’s Nominees on the WHITE Proxy Card

DENVER, April 30, 2019 (GLOBE NEWSWIRE) — PDC Energy, Inc. (“PDC” or the “Company”) (Nasdaq: PDCE) today mailed a letter to shareholders in connection with its 2019 Annual Meeting of Stockholders (“2019 Annual Meeting”), scheduled for May 29, 2019. PDC shareholders of record as of the close of business on April 1, 2019 will be entitled to vote at the 2019 Annual Meeting.

Highlights of the letter include:

  • Under the leadership of the Board of Directors and management team, the Company has taken decisive steps to reposition the portfolio and operated with excellence through dynamic industry cycles.
  • PDC’s Board is highly qualified, has demonstrated a commitment to leadership and strong governance, including recent refreshment, and remains open-minded, engages with shareholders and regularly evaluates the business and industry to seek out new ideas and perspectives to create additional value.
  • Independent industry analysts have recognized PDC’s strategy and the prioritization of free cash flow.
  • Activist shareholder, Kimmeridge, has brought forward dangerous and ever-changing demands that demonstrate a lack of public company operating experience, a lack of focus and suggests escalating certain ongoing PDC initiatives to levels that threaten the stability of the Company.

The Company’s letter to shareholders can be found at votewhiteforPDC.com/letters. Additional materials regarding the Board’s recommendation for the 2019 Annual Meeting can be found at votewhiteforPDC.com.

EVERY SHAREHOLDER’S VOTE IS EXTREMELY IMPORTANT,
NO MATTER HOW MANY SHARES THEY OWN.

Shareholders who have questions or require any assistance voting their shares
should contact PDC Energy’s proxy solicitor:

MacKenzie Partners, Inc.
Stockholders may call toll-free: (800) 322-2885
Banks and Brokers may call collect: (212) 929-5500

About PDC Energy, Inc.

PDC Energy, Inc. is a domestic independent exploration and production company that acquires, explores and develops properties for the production of crude oil, natural gas and NGLs, with operations in the Wattenberg Field in Colorado and the Delaware Basin in Reeves and Culberson Counties, Texas.  PDC’s operations are focused in the horizontal Niobrara and Codell plays in the Wattenberg Field and in the Wolfcamp zones in the Delaware Basin.



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